New Delhi: Genesis, the luxury brand of Korean car major Hyundai, may well be preparing for a run on Indian roads, including with electric offerings. It looks to take on the German trio of Mercedes- Benz, BMW, and Audi, apart from Jaguar-Land Rover and Lexus.
The company may assemble the cars to avoid the high import duty, though an initial debut may happen through the fully-built import route. Genesis was launched by Hyundai in 2015 as a separate luxury brand, and apart from home market South Korea, the brand is available in the US. It recently entered the high-volume Chinese market and is now debuting in Europe. India could likely be the next destination for the brand and feasibility studies for this have already begun, Hyundai India MD & CEOs Kim said.
"We are conducting a feasibility study in the luxury segment, though it is too early to talk of any definitive plans and launch dates," Kim said.
He said the luxury car business is dominated by German makers in India and Hyundai is understanding reasons for their strong holding, and how new brands can make an entry Kim said despite coming from a mainstream car brand such as Hyundai, Genesis has been able to create a strong niche in the luxury category in markets such as the US and South Korea.
"Philosophy and core values of Genesis are different when compared to a Hyundai." Hyundai is not the only carmaker with a separate luxury brand. Toyota sells luxury cars under Lexus, and Nissan owns Infiniti.
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